KeyBanc on MasTec (MTZ): 'We See the Relative Discount to Peers as an Attractive Opportunity'

KeyBanc analyst Sangita Jain reiterated an Overweight rating and $168.00 price target on MasTec (NYSE: MTZ).

The analyst commented: "Strong 2024, Upbeat Revenue/Margin Outlook Across Segments; 2024 marked a significant turnaround as MTZ recalibrated renewables ops, improved execution across segments and reflected these efforts via a ~100 bps EBITDA margin improvement y/y. We believe that the 2024 reset firmly puts the Company back on the path to its LT target of $15B revenue at DD margins. We believe MTZ is favorably positioned to deliver on its 9.3% revenue growth guidance and 20 bps of margin improvement (upside likely but dependent on Pipeline backlog timing) in 2025 via projects currently underway and in backlog, reducing risk exposure to policy changes. We see the relative discount to peers as an attractive opportunity and maintain our OW and $168 PT."

For an analyst ratings summary and ratings history on MasTec click here. For more ratings news on MasTec click here.

Shares of MasTec closed at $130.59 yesterday.

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